Helping high growth start-ups

Friday September 18th, 2020

Creating jobs of the future.Funding

High growth start-up companies and university spinout projects will receive grants to help them grow in the wake of the coronavirus (COVID-19) pandemic.

Part of a £3 million package of support, the funding provides grants of up to £50,000 for 41 high growth potential start-ups and up to £130,000 for 16 spinout projects. It also includes bespoke support to help the businesses develop.

The University of Edinburgh’s innovative Exergy3 spinout project is one of the first to be awarded funding. It aims to provide power storage using electric-to-electric thermal energy story technology, has the potential to convert existing fossil fuel burning power plants to zero carbon energy storage systems.

The pandemic meant that work on Exergy3’s small-scale prototype ground to a halt, however, with the additional support from the Scottish Government, the team is now able to progress and take the technology a step closer to commercial use.

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